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IHOP | Large TX Operator | Adj Walmart 3300 E Main St 4,322 SF Retail Building Alice, TX 78332 $2,304,000 ($533.09/SF) 6.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute Net Lease - No Landlord Responsibilities
- Long-term lease with multiple renewal options to extend lease term and historical occupancy
- Famous King Ranch: 20 miles south of subject property
- 10% rental increases every 5 years | Large 1.22 acre parcel
- Adjacent to Walmart Supercenter-anchored center
- Naval Air Station Kingsville: 23 miles south of subject property
EXECUTIVE SUMMARY
Texas Broker of Record... BRUCE FRANKEL ... TREC RE License: 9000477
Faris Lee Investments is pleased to present the opportunity to acquire the fee simple interest in an Absolute NNN-leased, 1.22-acre IHOP investment property in Texas. The absolute net lease structure ensures zero landlord responsibilities, with 10% rental increases every five years providing a natural hedge against inflation and boosting return on investment. The lease is backed by a rare personal guaranty from a legacy IHOP operator, which ensures lasting income security. The IHOP operator at this location is a seasoned multi-unit franchisee with over 30 years of success and 37+ restaurant locations across Texas. Nearby community drivers include King Ranch, Naval Air Station Kingsville, and NALF Orange Grove.
Faris Lee Investments is pleased to present the opportunity to acquire the fee simple interest in an Absolute NNN-leased, 1.22-acre IHOP investment property in Texas. The absolute net lease structure ensures zero landlord responsibilities, with 10% rental increases every five years providing a natural hedge against inflation and boosting return on investment. The lease is backed by a rare personal guaranty from a legacy IHOP operator, which ensures lasting income security. The IHOP operator at this location is a seasoned multi-unit franchisee with over 30 years of success and 37+ restaurant locations across Texas. Nearby community drivers include King Ranch, Naval Air Station Kingsville, and NALF Orange Grove.
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,322 SF
Building Class
B
Year Built
2015
Price
$2,304,000
Price Per SF
$533.09
Cap Rate
6.25%
NOI
$144,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
1.22 AC
Zoning
Commercial
Parking
84 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
223’ on Texas 44
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 11772-001-000-00 | Improvements Assessment | $664,518 (2024) |
| Land Assessment | $568,630 (2024) | Total Assessment | $1,233,148 (2024) |
PROPERTY TAXES
Parcel Number
11772-001-000-00
Land Assessment
$568,630 (2024)
Improvements Assessment
$664,518 (2024)
Total Assessment
$1,233,148 (2024)
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IHOP | Large TX Operator | Adj Walmart | 3300 E Main St
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